St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-11
Wheat and Corn Took a Downward
Tendency ON the Chicago Board
Yesterday Morning.
This Was Attributable Chiefly to The
Duliuess Which characterized the
kdviees From Abroad.
Later on Various Influences Caused a
Stronger Feeling on Behalf of
the Leading Cereal.
Transactions in the Financial Circles
Of Vail Street.-The Gen.
eral Markets.
Snecial To the Globe

Special to the Globe.
CHICAGO, June lo.-Asidc from the fact
that the CLIQUE houses declare their holding
OF cash wheat has not been sold yet for July,
1t is hard to see any bull promises about the
PIT. Bnt the clique attaches do insist, i'll
way that looks honest, too, that the immense
cash holding of their principals is still un-
marketed for any month, There is no getting
around this as bull argument for IL short
seller. II is now too late to sell 1.5000l0
bushsls. There will be 10000, 900 bushels
TO sell, for the clique is still paying for all
the receiots for july; and if the bull party
has merely a few millions bought, July will
have to pass June So long this is a fact,
big receipts cut no figure. The accumulation
of all bear conditions possible here at Chi
cago cut no figure: indeed, with a crowd,
such as is buliing wheat, the accumulation CT
bear circumstances only makes it operative
that the price of wheat should be pat the
higher and the speculative shorts
squeezed the tighter. The more
high priced cash wheat that comes in
the more tribute must be taken out CT the
rich fighters. There was runor on change
this morning that l 600, 0Go bushels of wheat
had cleared from New York (14o boat loaus)
July wheat bulled from S5Isc to S5s4c On the
'clearances proved to be canard, but the
actual figures were hardly such that the
bulls could feel disappointed. There were
cleared from New York alone 81, 900 bush
els, making it quite certain that
THIS WEEKS EXPORTS
of wheat from the Atlantic ports will be the
largest ever known. Early the anticipation
was that the government report might help
the bull side some. This speculation helped
to bull July wheat to S57sc, but did not
suffice to hold it there. The government re-
port ought to have bulled the market, but it
did not The increase i'll entire acreage was
only per cent, while the falling off in the
condition both of winter and of spring wheat
from last year at this time is marked
So far as the speculation in the
pit was concerned, it was without incident
The June option was between 80 and csc.
July was apparently in the hands all the ses-
sion of the crowd. The regularity with
which the price was stopped at S5I2e, gave a
look to the market as if July was ''pegged"
at that figure. But the ''pegging" was done
by the crowd The popular impression just
now is that at S5l2c the clique houses leave
orders. The market SO far, has been kept SO
constantly above that figure that the sound
ness OF the theory is not put to the test
The estimates are now that the visible supply
100000 bu. The receipts of the interior
points, and especially at Chicago, have been
so enormous that even the exceptional clear
anceS from the Atlantic seaboard have been
put in the shade.
THE ROUTINE REPORT.
CHICAGO, June 10.-Uables this morning
were dull and put a downward tendency on
a wheat and corn Beyond these early adYices
there was little or nothing to effect the OPEN
ing markets. The receipts of wheat continue
heavy, 551 cars were reported this morning.
.Suly wheat opened at 50 y, a rumor that
1000, 900 bushels had cleared from New
York was circulated, causing July to Jump to
S5S4, but it almost Immediately reacted to
S5l2; An expected unfavorable crop report
and large clearingS of wheat both from New
York and Philadelphia made the wheat
market stronger. and by 1890 July wheat
sold up to 1913. Speculation was not greatly
dirturbed by any outside influence during
the morning session. The clique did moth
ing. as usual, probably the most important
feature Of the day was rumor that certain
parties were going TO make u tender of in
II spccted wheat on track in satisfaction of
} uIta contracts, and if it was not accepted
would test the question in the courts. This
would be, in lieu of warehouse receipts, it
being impossible TO deliver in the regular
way, owing 10 The scarcity of storage room.
This. if accomplished, would be a very I'M
portant question, but so far it is nothing but
a rumor, and could not be traced to any
reliable source. A little squirt of local
buying came in just prior to 1 o'clock, put
ting july up to So 4sc, then it reacted frac-
ton, recovered and closed the morning SEES
sion steady at S5AsGS5Isc. The crowd re-
mains in doubt about the attitude of the
clique in July wheat, many regarding it
very doubtful venture to load up with that
future, in view of the amount in store and
ranged between 92@925sc, closing at the
opening figure, 92l2c. There were frequent
fluctuations i'll August Of fractional amounts
during the day. 1t opened at SIC and closed
=,
Steadily downward. Tho local crowd were
more disposed to sell, and country operators
continue TO changs their trades from near to
more distant futures and TIE difference
widened slightly. Receipts were fair. July
opened at 80 sold dawn to 3S34c and closed
at 3S146rSSsSc. October closed at 40s4c A
good deal OF corn is being taken out of store
and vessel room WAS chartered for 3i5,G 600
bu. Short ribs and lard were moderately ac-
tive and stronger, and prices averaged higher
The offerings early were light and demand
from shorts and to fill outside orders fair and
prices Of ribs were advanced
THE QUOTATIONS.
The leading futures ranged rs follows:
Wheat-No. June 92tae, closing at 924sc;
S2c: closing at S1Ac; September, 817Sc,
closing at S1Ssc Corn-No. 2 June, :377sc,
closing at :S73sc; July, 39c closing at 3Sl2c;
August Zoe, closing at 395sc; September,
405Sc, closing at 402Sc. OatS-No. = June
21%se, closing at 25l2e: July 267Sc, closing
at 265sc; August, 257Sc, closing at 25lsc:
september, 251Sc, closing at 25l2c. Mess Pork
Per Dbl. June, S22, closing at S22 Lard
Per1Go lbs, june, S6.65 closing at SIS IS;
July, 500, closing at So 70; August,
$3.50, closing at $3.50; SeDtem-
Der, $500, closing at $500. Short ribs bios
Per 100 lbs. June 81 65, closing at 81 65;
July, S7.65, closing at S7.65;
August, $40, closing at SIT 2l2: Sep
ember, $50, closing at S7.sols
Cash quotations were as follows Flour
continues quiet and prices are unchanged.
Wheat--No. 2 spring, 92t26e93ss; No
3 spring, 79c; No red, S2Ae.
Corn-No. 2, 31s4c. 0ats-No .,
2, 251sc. Rye-No. ., sac. Barley-No 9,
59r; Flaxseed-No l, SIG. Prime timothy
seed, S1.a5. Mess pork, per Dbl, S2a.
Lard, per 100 lbs S6.67ls86. 70l2. Short ribs
sides, loose, 1.606il7 6e12; dry sailed should
ers, boxed, S5.6o6t5.70; short clear sides,
boxed, $7.956o7:9s. Whisky--Distillers'
finished goods, per gallon. 81 10. Sugars
Cut loaf. 6ssF16sse; granulated, &c: standard
"A, 5asc. Receipts-Flour, 5000 bbls;
wheat. 237, 900 bu: corn. 10000 bu;
oats $4,000 bu: barley, $4,000 bu Ship
ments-Flour. 5000 bbls; wheat, 2,o0O
bu; corn, $4,000 bu; Eats % 900 bu:
barley, 600 bu On the produce exchange
to-day the butter market was firm and in
fair demand: dairy. 12@13c; creamery, 1870